AMC Theaters, the biggest cinema chain in the world, has joined the illustrious list of companies that have adopted cryptocurrency by accepting Dogecoin and Shiba Inu. Its CEO, Adam Aron, made the announcement in a tweet on Thursday, March 10.
More conventional payment methods, such as Google Pay and Apple Pay, currently account for over half of the company’s ticket purchases. However, AMC allowed its customers to pay for tickets and concessions with Bitcoin, Ethereum and several other cryptocurrencies in November 2021.
As reported by U.today, AMC was initially supposed to add support for the two ‘memecoins’ on its website and mobile app on March 19, but the addition happened more than a week earlier. The movie theatre chain ran Twitter polls to find out whether it should move forward with the integration of Dogecoin and Shiba Inu. After hearing a resounding yes from the communities, Aron said that his company had started enabling payments in those two cryptocurrencies.
The company has earlier dipped its toes into the NFT space. In January, it gave away more than half a million “I Own AMC” NFTs to its shareholders. Adam Aron also floated the idea of issuing AMC’s own cryptocurrency back in November, but the plan is still up in the air.
Stripe re-embraces crypto
Stripe, a payment service provider that business owners can use to accept varieties of payment methods like credit cards, buy now, pay later service, and many other payment methods, announced yesterday the addition of many crypto features to support crypto businesses. These include crypto exchanges, fiat on-ramps, wallets, and non-fungible token marketplaces.
The privately-owned payment giant gained ground in the market after announcing its support for Bitcoin payments back in 2014 but halted Bitcoin payments in 2018, citing volatility and inefficiency in making everyday, normal payments with crypto.
Last November, co-founder, John Collison noted the firm’s willingness to consider accepting crypto payments again in the future. And now, the company has listed many of the new solutions it now provides for the blockchain industry, and it encouraged Web3 builders to tell the company more about what they are working on so that it could provide more tools and better understand needs. John Collison wrote in a tweet that:
“Stripe now supports crypto business: exchanges, on-ramps, wallets, and NFT marketplaces. Not just pay-ins but payouts, KYC and identity verification, fraud prevention, and lots more.”
Although, Stripe is not yet available to Nigerian businesses, the payments firm will facilitate crypto exchanges, allowing users in over 180 countries to deposit funds and use its Connect product to pay out fiat currencies.
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